Chinese smartphone maker Transsion captured 8.6% of the global market in the third quarter, just behind Oppo, which ranks fourth with 8.9% market share.. At the same time, shipments of Transsion smartphones increased by 35%, and, as IDC expects, we can expect it to reach fourth place in this ranking.
Year-to-date through September, Transsion's revenue grew 20% year-on-year to $5.8 billion and net income rose 70%. The company is a relatively new player in the smartphone market. Transsion's initial business strategy was to focus on Africa, the Middle East and South Asia. markets. In the latest quarter, Transsion managed to increase smartphone shipments by 35% to 26 million units compared to the same period last year.
Last year, Transsion captured 40% of the African smartphone market through its Tecno, Itel and Infinix brands. She is a leader in Pakistan and Bangladesh. Transsion products are also growing in popularity in poor countries in the Middle East. Transion has smartphone manufacturing facilities in Ethiopia, India and Bangladesh.
The company adapted the software to the needs of customers in specific countries and regions. For example, higher accuracy of the facial recognition system was achieved for users with darker skin.